Naming an Executor

Choosing the person who will administer your estate.

Your executor, or personal representative, is the person who will be responsible for administering your estate. You should choose this person carefully. The responsibilities of an executor are serious, and you'll want someone who will take them seriously. Because your executor will need to be available to sign legal documents and appear in court proceedings, it's a good idea to appoint someone who lives in the area, or at least in the same state you live in. If you appoint someone from out of state, the probate court may appoint an additional executor who lives in state, which may mean extra fees charged against your estate.

You should ask the person you want to serve as your executor in advance, so he will know that you've named him and can begin the probate process. To be on the safe side, many people choose to name an alternate executor, just in case their first choice is unable to serve. You don't have to name an alternate, but if you don't and for some reason your first choice can't serve, the court will appoint someone to do the job, and that person may not be someone you would have chosen.

Unlike the witnesses to a will, it's permissible to have one of your beneficiaries serve as executor. In fact, most married people name their spouse as their executor. However, you should remember that being an executor is more than just an honorary position, and that the executor's responsibilities are serious ones. If you don't think your spouse is up to the task, you'll do him or her a favor by naming someone else.

Because most people choose someone they trust as executor, they usually don't require that the executor be bonded. A bond is only required when there's some concern that the executor will misuse his or her authority and diminish the value of your estate. But the cost of obtaining a bond is an expense of your estate, and that in itself can reduce its value (the bigger your estate, the more expensive the bond will be).